Online classifieds specialist Adevinta’s product and tech teams are working on everything from backend and data to machine learning, while supporting the circular economy. Read their blog to know more about what they’re building.
's internal valuation has been cut by another 15%, people familiar with the matter tell Sifted. That's after the fintech first downgraded the internal value of its shares just seven months ago. The cut should bring its internal valuation down to around $9.35bn.
💳 Monzo released its numbers for the 12 months to the end of February, revealing a doubling of revenue to £355.6m and a tripling of its lending book. But it made just a €3m improvement on its pre-tax losses compared to last year, to £116m. Despite the figures, CEO TS Anil still has his sights set on profitability next year.
🩺 Peter Thiel invests in UK-based healthtech. The German-American billionaire has added Lindus Health to his portfolio — Sifted understands he chipped in around $1m to the startup, which is building a platform to speed up clinical trials for health and biotech companies.
🧺 Spanish laundry service startup Jeff has declared bankruptcy after failing to pay its employees' salaries for nine months.
Vienna isn’t only a top-ranked place to live, it’s a top destination for entrepreneurs to quickly launch, fund and test their businesses. We uncover why innovators and VCs are setting up shop in the coffeehouse capital and what experts say is needed to keep up the momentum.
Who is he?
Michiel Scheffer: former minister, founder and angel investor — and the new president of the European Innovation Council (EIC) fund.
Why does it matter?
The fund has a budget of more than €10bn to support the continent's startups and research. However, it's had its struggles, and failed to deliver promised payments to a number of startups, some of which were left on the brink of bankruptcy. It even handed over responsibility for final investment decisions to a private investor, Alter Domus, in September last year, and due diligence responsibilities to the European Investment Bank (EIB).
What's his plan?
Scheffer spoke to Sifted about his plans to write bigger tickets for deeptech, hopes to increase the fund's max ticket size and new ideas to shake up grant options.
💰 Series A+
SellerX, one of Europe's biggest ecommerce aggregators, is set to acquire US ecommerce aggregator Elevate Brands — it's also raised equity funding of €60m in a round led by Sofina, with participation from investors like L Catterton, Cherry Ventures and Felix Capital.
💰 Pre-seed and seed
- France's Zeliq, which provides AI-powered solutions for sales teams, has raised €5m in pre-seed funding led by Resonance.
Klearly, a Dutch payments app for small and medium businesses, has raised €2.1m in a pre-seed round led by Antler and Global PayTech Ventures.
- Cross-border payments platform NomuPay, based in Ireland, has raised $53.6m.
- France's Riverse, a platform to buy and sell carbon credits, has raised €1.5m in a round led by Speedinvest.
Germany's bNear, which offers a virtual office for remote workers, has raised €1m.
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